Earlier this year, I was visiting one of our real estate offices and happened to notice a blank white board that was once a production board hanging predominantly on the wall. When I started selling real estate, the production board was a huge motivator for me. I wanted to see my name up there noting that I had taken a new listing or gotten an accepted offer. I’m pretty sure that competitive nature is extremely common in our profession!
I started reflecting on some of my recent office visits. I think I remembered seeing production boards filled out– or had I somehow missed the demise of this real estate office management tool?
I decided to do an informal survey and posted a question about the use of production boards- why, or why not- to our Better Homes and Gardens Real Estate Facebook Owners/Managers group.
Not surprisingly, some offices are still using the boards and some aren’t.
What did surprise me was one of the reasons frequently given for stopping the use of production boards. Several managers shared that they stopped when the market turned. That what was supposed to be a motivator for agents had become a de-motivator. Seeing new listings that had little hope of selling, and seeing so few sales was downright disheartening for office morale. So eventually, the boards were just erased and left empty.
As you might expect, those still using the boards said they find them to be a helpful visual aid that allows everyone in the office to see the monthly activity of new listings and properties under offer. The boards also helped everyone see how well the collective group was tracking towards monthly listing and sales goals.
I’m a big believer in goal setting and accountability on an individual sales agent level and overall office level. I also know the power of visual tools to achieving short term and long term goals. Even though our numbers may have decreased, we still have to hit goals. If we are professionals in this industry, we need a plan and we need to use every resource available to execute that plan. If your production board filled a wall because years ago there were that many transactions, and now the number has reduced and the board never looks full, then get a smaller board but keep using the tool.
Another thought is to give your production board a digital makeover and build it into your company intranet site. I’d love to log into a site and see how I’m personally tracking on my monthly and yearly goals as well as how the entire office is tracking. Since most agents spend very little time in the office these days, this seems like the logical next generation approach.
What doesn’t make sense to me is not using this tool in some way, shape or form- find a way to incorporate the production board in a way that makes sense for your business.